Proactive Investors - Run By Investors For Investors

Royal Road Minerals updates on field operations in Nariño province, Colombia

Last year, the firm struck a binding framework agreement with Economias Sociales del Comun (ECOMUN)
Royal Road Minerals updates on field operations in Nariño province, Colombia
The area is of the most prospective and under-explored regions in Colombia

Royal Road Minerals Ltd (CVE:RYR) updated on its activities at the Nariño province in Colombia, one of the most prospective and under-explored regions in the Andes, where it says field operations are underway.

Last year, the firm struck a binding framework agreement with Economias Sociales del Comun (ECOMUN), a group established in the wake of the final peace agreement, between the Government of Colombia and the Revolutionary Armed Forces of Colombia People's Army (FARC-EP), inked in November 2016.

"As we close in on the first anniversary of our collaboration agreement with ECOMUN, we are pleased to see that field operations are underway, that the management structure is functioning and that the time invested in attaining social license at this early-stage of our exploration program appears finally to be paying off," said  Tim Coughlin, Royal Road Minerals' president and CEO.

"It is our view and we believe it is generally well-accepted, that the exploration potential in Narino speaks for itself, the challenge is primarily on the social side and in order to secure our investment and ultimately realize full potential, we believe that is where our initial efforts must focus."

Royal Road is the largest application holder in Narino Province with some 350,000 hectares under concession contract application.

There are approximately 120 registered small producing gold mines, scores of unregistered informal occurrences and new deposits and mineralised camps being discovered by local miners on a regular basis along a 65-kilometer-long gold mineralised belt.

In general, Royal Road's current exploration is focused on reconnaissance exploration and drainage geochemical sampling for porphyry copper and gold targets and on joint-venture and acquisition opportunities for gold only targets, the firm said today.

View full RYR profile View Profile

Royal Road Minerals Timeline

Related Articles

coal
April 02 2019
Peel Hunt has a ‘buy’ recommendation and target price of 205p each on Anglo Pacific shares
1528370432_cobalt-on-periodic-table.jpg
June 07 2018
Primary Cobalt Corp is a project generator in growth mode
Gold  nuggets
January 28 2019
Maverix’s sole aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use